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Salary dissatisfaction common across workforce generations

Salary dissatisfaction is common across workforce generations and over half of all the employees feel dissatisfied with their salary, says a survey.

By: | New Delhi | Published: September 15, 2016 5:14 PM
Salary dissatisfaction is common across workforce generations and over half of all the employees feel dissatisfied with their salary, says a survey. (Thinkstock) Salary dissatisfaction is common across workforce generations and over half of all the employees feel dissatisfied with their salary, says a survey. (Thinkstock)

Salary dissatisfaction is common across workforce generations and over half of all the employees feel dissatisfied with their salary, says a survey.

A study by TimesJobs reveals that 55 per cent Gen Y (those born during the 1980s and early 1990s) and 53 per cent Gen Z (those typically born after 1995 or 1996) employees were disappointed with their first drawn salaries.

“This disappointment with salaries is due to many factors – the lack of a proper benchmark tool is one of the reasons which is not readily acknowledged,” Vikas Deep Verma, Head of Product & Marketing, TimesJobs said.

While salary may not be the only thing a job-seeker values while making a career choice it is certainly a critical driver.

Around 45 per cent Gen Y and 58 per cent Gen Z stuck to their first jobs for 2-3 years and when they left they opted out for better package.

This study was conducted by TimesJobs with inputs from over 1,000 working professionals across India.

The TimesJobs study based on the first job journey of Gen Z and Gen Y workforce also reveals that Gen Z are quicker start in getting their first jobs in comparison to Gen Y.

Nearly 46 per cent Gen Y workers applied to 5-10 jobs before finally getting hired and 52 per cent Gen Z workers applied to 10-15 jobs before ultimately accepting a job offer.

Another interesting insight is that Gen Z professionals are more aware of their market worth as 58 per cent of them were able to negotiate their salaries before accepting the final job offer. This is a steep increase when compared to 40 per cent of Gen Y’ers who were able to do the same, the study said.

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